Drilling Campaign to Commence in Four Weeks
February 01 2005 - 1:21PM
PR Newswire (US)
Drilling Campaign to Commence in Four Weeks VANCOUVER, British
Columbia, Feb. 1 /PRNewswire-FirstCall/ -- Texhoma Energy, Inc.
("Texhoma") (OTCBB: TXHE) would like to inform its shareholders
that the drilling campaign in Thailand is to commence on or about
March 1, 2005. On November 5, 2004, Texhoma acquired a 40%
shareholding in the capital of Black Swan Petroleum Pty. Ltd.
("BSP"). BSP holds a 100% interest in the exploration concession
B7/38 offshore Thailand. Texhoma holds a 40% shareholding in BSP
whilst Mr. Jacobs, Texhoma's Executive Chairman, is also President
& CEO of BSP. BSP reports that it has executed a contract for
the services of the "Trident-16" jackup drilling rig owned by
"Transocean." The rig is currently operating in the Gulf of
Thailand and will be towed to the Hong Fah drilling location to
commence drilling for BSP on February 25, 2005. Pictures of the
Trident-16 are available on the Company's website
http://www.texhomaenergy.com/ The Hong Fah-prospect will take
approximately 16 days to drill and targets an estimated oil
accumulation of 60 million barrels. This well is a follow up
drilling location to the Shell Hong Fah-A01 well drilled in 1991
which had significant oil shows and 100 meters of gross pay. It is
also within 10 miles of the proven oil accumulation Nang Nuan that
was successfully produced by Shell. The Hong Fah-well is an
appraisal of an existing discovery. Following the drilling and
possible testing of Hong Fah, the rig will be moved to the Khun
Thong location some 10 miles to the north. The three horizons
targeted by Khun Thong have a similar oil-target size as Hong Fah.
Both drilling locations are based on recently acquired 3D-seimic
information which significantly reduces the drilling risk. The
Company is excited about the prospect of testing the hydrocarbon
potential of the concession after an investment of over $5 million
and some seven years of work by BSP and its predecessor Devon
Energy Corporation. In addition to the upcoming wells, the
exploration team of BSP has identified other prospects of
world-class size that are targeted for testing towards the end of
the year. For further information, please contact the undersigned.
Texhoma Energy, Inc. Frank A. Jacobs Executive Chairman Web Site:
http://www.texhomaenergy.com/ Email: Investor Relations Inquiries:
Greg Werbowski, Tel.: Toll Free 866-685-8943 (TXHE) Safe Harbor
Statement: "This News Release may include forward-looking
statements within the meaning of section 27A of the United States
Securities Act of 1933, as amended, and section 21E of the United
States Securities and Exchange Act of 1934, as amended, with
respect to corporate objectives, projections, estimates,
operations, acquisition and development of various interests and
certain other matters. These statements are made under the "Safe
Harbor" provisions of the United States Private Securities
Litigation Reform Act of 1995 and involve risks and uncertainties
which could cause actual results to differ materially from those in
the forward-looking statements contained herein." DATASOURCE:
Texhoma Energy, Inc. CONTACT: Investors: Greg Werbowski,
+1-866-685-8943 (TXHE), for Texhoma Energy, Inc. Web site:
http://www.texhomaenergy.com/
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